10 Aug 2011 07:00
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.
10 August 2011
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Independent Consultant Appointed for Maiden Resource Estimates
Stellar Diamonds plc, the London listed (AIM: STEL) diamond development company focused on West Africa announces the appointment of CAE Mining ("CAE") of South Africa as independent technical consultant for the preparation of the maiden resource estimates at its Droujba and Tongo kimberlite projects in Guinea and Sierra Leone respectively.
Highlights:
·; Dr. Matthew Field of CAE Mining appointed as independent consultant
·; Maiden resource statements and economic scoping studies expected Q1 2012
·; Resource definition drilling underway at the Droujba pipe with over 6,000m completed to date
·; Resource drilling at the Tongo dyke project expected to commence shortly
Chief Executive Karl Smithson commented:
"We are pleased to have appointed CAE Mining as the Company's independent technical consultant, with Matthew Field as the Competent Person. CAE will verify and model the results from the Company's work to date in order to guide future drilling and bulk sampling programmes. This will culminate in the preparation of the maiden resource statements and preliminary economic scoping studies for our two flagship projects. In Dr. Field, Stellar has retained a highly experienced kimberlite resource geologist who has worked or consulted for many major and junior diamond companies. In the meantime the drilling at Droujba and bulk sampling at Tongo is progressing well and I look forward to updating shareholders in due course."
About CAE Datamine
CAE Mining was established after the acquisition of the Datamine Group during 2010. With a team of more than 100 specialists, CAE Mining offers technical consulting services for geology and mine planning. The team that will advise Stellar is led by Executive Consultant (Geology), Dr. Matthew Field, an experienced diamond resource geologist, who spent 23 years with De Beers and since 2008 has consulted widely in the diamond industry to both major and junior diamond mining and exploration companies, including De Beers, Debswana, BHP-Billiton and Alrosa. Further information on CAE Mining can be found at http://www.cae.com/mining.
About Stellar Diamonds plc
Stellar is a London (AIM: STEL) listed diamond mining and exploration company focussed on West Africa. Stellar owns a 100% interest in four high-grade kimberlite projects. In Guinea resource definition drilling is continuing on the diamondiferous Droujba kimberlite pipe and a processing plant is being established on site to process bulk samples. In Sierra Leone at Tongo a bulk sampling programme is ongoing on the high grade Dyke 1 and drilling will shortly commence on the kimberlite as part of the resource definition programme.
For further information please contact the following or visit the Company's website at www.stellar-diamonds.com.
Stellar Diamonds plc
Karl Smithson, Chief Executive Tel: +44 (0) 20 7257 2930
Northland Capital Partners Limited
Gavin Burnell, Edward Hutton
Charles Vaughan (Sales) Tel: +44 (0) 20 7796 8800
Daniel Stewart & Company plc
Martin Lampshire, Oliver Rigby Tel: +44 (0) 20 7776 6550
Pelham Bell Pottinger
Charles Vivian / James MacFarlane Tel: +44 (0) 20 7861 3232